Gathering and Documentation of market intelligence
Reports from different governments, legal and financial bodies asserts that in situations where the overseas activities of an organization are more than 20 % of its turnover in AAMC Training Group Organization. Such an organization is said to be practicing international marketing. Several approaches that the AAMC Training Group Organization has ventured in to prove their commitment to internationalization. They are monetary investments in the foreign markets, organizational adaptations, and diverse shifts in their attitudes. To achieve the involvement in the international marketing through the stated approaches, it has to undertake an extensive research, which is done effectively using relevant sources. Further to that, this is the process of collecting market intelligence.
Market intelligence is a process that involves the collection of data, pertinent information both internal and external data by AAMC Training Group Organization. The data collected is usually relating to the market more accurately to the competitors, the customers, and the trends in the markets. Additionally, consumer spending is also considered which determines the demand and supply dynamics in the markets. Practically, market intelligence by AAMC Training Group Organization involves several processes. The process of gathering, analysis and utilizing the information obtained which is relevant to the segments of the markets where the organization participates. In addition, it provides the information on the markets where the AAMC Training Group Organization may be willing to participate and venture in future.
Commercial Services of Marketing Intelligence
The commercial intelligence services may widely be available for the disposal of AAMC Training Group Organization. However, the process involved in the collection, analyzing, and documentation of the information can be involving and time-consuming as well. Due to the complexity of the process, intelligence services are connected to external sources. The external source usually includes commercial services providers who have strategically ventured into providing reliable market intelligence. An example of external commercial market intelligence services that can be sourced by the organization includes making subscriptions to the international trade directories and magazines.
In addition, they may receive information from embassies, consulates and government reports and statistics. Additionally, AAMC Training Group Organization may seek information and data from online data services and various specialist agencies with an aim of collecting and analyzing different information and data that are not readily available in normal systems. Similarly, numerous commercial systems can offer information on the commercial intelligence services. However, before seeking the services of any organization, it is important to take a great consideration of the information they provide. The data and information received must create value to AAMC Training Group Organization, while considering the content in the data, its accuracy, and the cost. Additionally, it must be understood whether the information and data obtained shall provide value for money for the organization.
In situations where the information and data services being provided to the organization is extensive and costly, AAMC Training Group Organization will be required to evaluate other choices available. The factors analyzed includes whether the services are cost effective and affordable by the organization. Consequently, it may be viable to initiate negotiations with the organization that offers the market intelligence to make their requirements cost effective while at the same time reviewing the data and information they provide. The key point in this process is ensuring that the information that is provided is cost effective and affordable by the organization seeking for the commercial services.
Analysis of Market for Relevance and Applicability
The main objective of AAMC Training Group Organization carrying out market analysis is to determine the attractiveness of the international markets. Understanding the attractiveness of the markets will be pivotal in understanding all the opportunities and threats involved in the markets and be able to relate them to their strengths and weaknesses. For fully analyzing any international market, there is a need to ensure initially a solid understanding of the market that is under consideration. AAMC Training Group Organization will have to consider the following factors for a full market analysis. The market size that involves the current size and the projected future sizes, the growth rates of the market and the profitability that results from venturing into the markets. Others include the industry cost structure, a chain of distribution in the markets and the market trends. Similarly, understanding the key success factors will be essential to comprehend the scope of the market analysis.
Another process that the AAMC Training Group Organization can use in determining the market relevance and applicability to the organization’s international business activities is the market research. Marketing research is carried out using the statistical research techniques of the customer data sourced through qualitative data collection methods such as surveys or focus groups. In addition, the process of market research is a tactical and a method driven field and the process is made of primary research data that is relevant to AAMC Training Group Organization. This process will provide the AAMC Training Group Organization with an extended opportunity to have various alternatives to select from and different stakeholders whose services can easily source.
Unlike the competitive intelligence that seeks to answer specified questions, market research is diverse and seeks to explain all the existing issues and, in that case, introduce other issues and a guidance to answer the questions. Market research by AAMC Training Group Organization shall include several processes such as social researchers, economic research, political research and environmental research. All these factors shall be integrated into the marketing research and, as a result, carry out a sustainable research process.
Evaluation of Marketing Performance
AAMC Training Group Organization will apply several tools and models in the process of evaluating their marketing performances successfully. The processes involved include the competitive analysis, the product life cycle, and the value chain analysis. It will also be considerable for AAMC Training Group Organization to carry out their product portfolio analysis, which includes the SWOT analysis. In the market where AAMC Training Group Organization has ventured their operations, numerous competitors have also ventured into this business. AAMC Training Group Organization shall devise adequate strategies to ensure that they withstand the competition in this market. The services offered by AAMC Training Group Organization cannot be directly linked to a life cycle due to the nature of the services.
Core Activities, Customer Base, Business Values and Current Business Direction
Two factors are considered when evaluating the commercial market intelligence services; they include the value for money to the services offered by the organization. The value of the information and data obtained should be higher than the cost of obtaining it as a commercial service. Similarly, the cost incurred in acquiring it should be lower than the value it brings to the AAMC Training Group Organization. Secondly is the quality of the data obtained. The data should be exclusive of all the aspects that are considered before venturing into an external market. The information and data should act as guidance for any venture in the future by the organization. It must consider all the dynamics and forces at play in the globalized markets.
Current International Marketing Performance and Effectiveness of Past International Marketing
Currently, most of the organizations that were previously domestic based have internationalized their markets scope due to the suitable environment that exists today. AAMC Training Group Organization has also followed the same route and their services are broadened. Importantly, globalization is being encouraged due to the integration and normalization it brings to the countries who engages in the common trade. There are laws and regulations set by the market players to ensure that all the members of the international markets abhor to the conditions. As a result, in the initial phases of the AAMC Training Group Organization, there was a necessity to carry out the forecast on the international markets.
Performance Data from All Areas of the Business to Identify Strengths, Weaknesses and Critical Success Factors Relevant To International Business Activity
Before the services reach the final step that is the consumer, it involves a series of practices and adequate planning by the organization. Strengths of the organization are the availability of a ready market for their services while the stiff competition creates a threat to the society wellbeing. The increasing needs for people to engage in education practices is an excellent opportunity set up by the environment to be exploited by AAMC Training Group Organization. The purpose of analyzing the value chain is to examine the development of the competitive advantages. AAMC Training Group Organization will be involved in a series of activities that will be critical to creating and build the value of their services.
Current Capabilities and Resources to Identify Areas for Improvement or Exploration within International Markets
The first step in this case is the collection of market intelligence that will offer the organization an effective platform to carry out the main marketing process. Market intelligence will be collected through various methods. For instance, a feedback channel can be developed to ensure that anytime a customer visits the organization they are given a platform to air out what they feel towards the service or product being offered to them. In the event they have left, they will be a systematic way of making necessary follow-ups to ensure that there is knowledge on how they are progressing as well as their views on the service or product that was offered.
Under-Performing Products or Services within International Markets for Re-Development or Withdrawal
International markets on this case are on a global scale. The organization must work further to analyze the business environment and explore all the social, political, economical, and business factors that may affect the entity towards attaining its international scale level. Intensive marketing must take place to ensure that all the factors that might affect attaining the platform for international marketing are all addressed. Marketing activities will target consumers all around the global scale to maximize the level of business through a series of marketing channels such as advertisements and other marketing platforms across the world.
Strength and Current Competitive Position of the Business within International Markets
A review of the current business Performance and Capability reveals that there is need to major on aspects of competition. Gaining and sustaining a competitive ability within the overlying industry will give the organization an upper hand when it comes to the specific products and services that are offered. Specific market segments must be identified and from them their issues directly addressed to suit their specific needs.
Trends and Developments Having an Impact on International Business Activity for Their Potential Impact on the Business
Forecasting of the international markets is a trending process that involves analyzing all the aspects concerning the international markets. It also involves analyzing all the factors, which are found at play in the markets where AAMC Training Group Organization operates. It includes several models that based on the phenomena being forecasted in the markets. To ensure that AAMC Training Group Organization accedes when it ventures into a market, there is a need to carry out a forecast of their international markets. This will facilitate obtaining of all the market dynamics and all the factors at play in the markets. It usually promotes the AAMC Training Group Organization and other companies to make reliable decisions.
Comparative International Market Information as a Basis for Review of Business Performance
Organizations such as World Trade Organization have been established to regulate and oversee all the operations in the markets of the countries that are member states of the organization. The organization ensures that there is no exploitation or unfair competition in the markets. AAMC Training Group Organization must consider all these aspects before making any venture into the foreign markets. The conditions are diverse in different countries and unique. Globalization has made enormous impacts on the world and has revolutionized how businesses are conducted in various parts of the world. Looking it in a company point of view globalization has opened up new opportunities in the different countries where the countries would not have ventured in if not to the aspect of globalization.
Sources of Intelligence for Advance Warning of New Products, Services, Technology or New International Markets for the Business
Market intelligence is not only a set of data. However, it is a multiple set of data that are combined and later analyzed to give portable information aimed at making an informed decision by AAMC Training Group Organization. The data and information received are systematically integrated together for making decisions relating to their international business needs. Similarly, the marketing intelligence system is mandated to gathering, managing, analyzing, and reporting on the factors that influence the external business operations.
The process is followed by documenting all the aspects involved with play in the foreign markets. It means taking keen interests on what is out there. The process includes gathering all information concerning the competitors, the technology advancements, and the political environment in the international markets. Sources of market intelligence by AAMC Training Group Organization include press clippings, warehouse withdrawal statistics, and advertising media expenditure reports. Others include patent filings, merger and acquisition reports, and credit reports. There are others that are less formal but are still effective in gathering market intelligence, and they are networking, trade fairs, conferences, and professional development activities.